How Rumoured Inheritance Tax Could Impact Your Legacy

As chancellor Jeremy Hunt puts the finishing touches on his upcoming Autumn Statement on Wednesday 22nd November, speculation is swirling about a potential cut to inheritance tax (IHT). Though concrete details remain unknown, even a small tweak could have big implications for your legacy plans.

As ‘The Inheritance Guru,’ I’ve seen firsthand how frozen tax thresholds and a steep 40% rate increasingly entangle middle-class families who assumed this tax was reserved for the ultra-wealthy. With property values rising far faster than allowances, more children and grandchildren now face unexpected tax bills that erode inheritances their parents and grandparents carefully set aside.

While scrapping inheritance tax entirely may be too bold for this Statement, a cut to the rate or increase to the allowance would provide tangible relief. For context, the current nil-rate band of £325,000 has remained frozen since 2009. Indexed for inflation, it would now be around £500,000. Lifting it to this level would immediately remove many modest estates from inheritance tax’s grip.

The rumoured changes make this autumn an ideal time to review your will and legacy plans. Even if the Chancellor leaves inheritance tax unchanged this year, the political pressure is clear. Your loved ones could benefit from acting now, before thresholds potentially rise.

Don’t Leave Your Family’s Future to Chance

Over a decade of frozen allowances has stealthily inflated inheritance tax revenues far beyond original expectations. Without action, more families will see hard-earned wealth eroded in the coming years.

Fortunately, you have options even within today’s restrictive allowances. With proper planning, many protect more of their estate from the taxman’s grasp. My years of experience in this field have taught me how sensitive personal and financial affairs can be. That’s why I offer a complimentary initial consultation to explain your options in a no-pressure environment.

Plan for Tomorrow, Act Today

It remains to be seen what changes the Chancellor will make to IHT in the Autumn Statement. However, it is clear that IHT is a complex and ever-changing area of tax law. If you are concerned about IHT, it is important to seek professional advice. I am here to help.

Take control of the legacy you leave behind. Schedule your complimentary discovery call via Calendly, call 07831 379562 or email [email protected]. I look forward to helping secure your family’s future. 

Whether you ultimately work with me or not, it’s my goal to ensure you make informed decisions that benefit your loved ones. An outside perspective often reveals planning opportunities people overlook on their own. 

Don’t Wait for the Chancellor

The Time is Now to Review Your Legacy Plans